# Modak

> Modak (Modak Makers) is a San Francisco Bay Area fintech that gives kids and teens a no-fee Visa debit card paired with a gamified money app for families. Parents fund the card, assign chores, and monitor spending from a dashboard, while kids earn in-app rewards points called Mobucks (MBX) for completing challenges, walking, and learning good money habits. Founded in 2022 by ex-GGV Capital investor Madhu Yalamarthi and backed by a $5.3M seed round, Modak positions itself as a lower-cost, rewards-driven alternative to Greenlight and GoHenry, and says it serves 30,000+ families.

- **Founded:** 2022
- **Headquarters:** Menlo Park, California, United States
- **Founders:** Madhu Yalamarthi (Co-Founder & CEO)
- **Team size:** ~64 employees (per Apollo data)
- **Products:** Modak Visa Debit Card (MoCard), Money App for Families, Mobucks (MBX) Rewards, Financial Education & Gamified Learning
- **Notable:** Raised a $5.3M seed round in June 2022 led by top-tier VCs including GGV Capital and Maya Capital., Reports 30,000+ families using the platform., Maintains a 4.7-4.8 star rating across the Apple App Store and Google Play.

## Products & services

- **Modak Visa Debit Card (MoCard)** — A no-fee Visa debit card for kids and teens, available as both a physical and virtual card, compatible with Apple Pay and Google Pay. Purchases only - no ATM withdrawals - with no monthly, overdraft, foreign-transaction, or replacement fees.
- **Money App for Families** — Companion app with a kid experience and a parent dashboard for funding the card, assigning chores and allowances, monitoring spending in real time, and locking/unlocking the card.
- **Mobucks (MBX) Rewards** — In-app rewards currency earned by completing parent-assigned or in-app challenges, walking, reading and learning. Redeemable at 100 MBX = $1.00, with no earning cap. Available to users with or without a card.
- **Financial Education & Gamified Learning** — Financial-literacy content and gamified challenges that teach saving, spending controls, and money goals through hands-on use of a real card.

## Achievements

- Raised a $5.3M seed round in June 2022 led by top-tier VCs including GGV Capital and Maya Capital.
- Reports 30,000+ families using the platform.
- Maintains a 4.7-4.8 star rating across the Apple App Store and Google Play.
- Holds an A- Better Business Bureau rating.
- Offers a genuinely no-monthly-fee model in a subscription-dominated category.

## Latest updates

- **2022-06** — Closed a $5.3M seed round to build a gamified financial-literacy and banking platform for kids and teens.
- **2025-01** — MBX rewards program open to all users (card or no card); minimum 100 MBX (~$1.00) required for redemption.

## Links

- Website: https://modakmakers.com
- LinkedIn: http://www.linkedin.com/company/modak-makers
- Twitter/X: https://twitter.com/modakmakers
- Instagram: https://www.instagram.com/modakmakers
- Facebook: https://www.facebook.com/modakmakers
- TikTok: https://www.tiktok.com/@modakmakers

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Profile page: https://yespress.io/modak
Published by YesPress — https://yespress.io
Last updated: 2026-08-03